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South Korean insurer expands in Guam, Saipan, Papua New Guinea


South Korea-based DB Insurance Co. Ltd. is buying an 80% stake in three units of Guam-based Century Insurance Co. in Saipan, Papua New Guinea and Guam, Pulse News reported. DB Insurance is buying the stakes from Guam-based conglomerate Tan Holdings as part of its plans to expand its global operations. Under the deal, DB Insurance will merge its existing operations in Guam with Century Insurance' unit.

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